Tuesday, May 18, 2010

Oversight Revenue Source

The Illusion of Magic
One wonders if taxing anonymous transactions over a certain dollar amount would generate enough revenue to pay for business and consumer friendly oversight. The transactions would be recorded but kept anonymous by encrypting the contract that documents the exchange of value. Only a court order could 'unseal' (decrypt) the transaction contract on reasonable suspicion that a law has been broken. Large secret transactions would be taxed at a full rate and the law would provide substantial penalties for tax-avoidance (think Al Capone prosecution).

The foregoing does not address static assets, only transactions involving them.  It may not be necessary to be concerned though.  The current challenge to our system of valuation will bring about transactions.

NOTE: This part of BuzzTheHill is not fictional. Consider this post a public disclosure and as such, to the degree something inventive has been addressed in it, the specific intent was to put it in the PUBLIC DOMAIN.

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